OVERSEA CHINESE BANKING Corp Ltd Makes New $338,000 Investment in Bristol Myers Squibb Company (NYSE:BMY)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,536 shares of the biopharmaceutical company's stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMY. Thoroughbred Financial Services LLC lifted its stake in shares of Bristol Myers Squibb by 1.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock valued at $1,004,000 after purchasing an additional 190 shares in the last quarter. Marcum Wealth LLC lifted its position in Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock worth $1,177,000 after acquiring an additional 193 shares in the last quarter. Leelyn Smith LLC lifted its position in Bristol Myers Squibb by 0.5% during the 4th quarter. Leelyn Smith LLC now owns 47,699 shares of the biopharmaceutical company's stock worth $2,698,000 after acquiring an additional 215 shares in the last quarter. Heron Bay Capital Management lifted its position in Bristol Myers Squibb by 2.1% during the 4th quarter. Heron Bay Capital Management now owns 10,795 shares of the biopharmaceutical company's stock worth $611,000 after acquiring an additional 220 shares in the last quarter. Finally, Providence Capital Advisors LLC lifted its position in Bristol Myers Squibb by 0.4% during the 4th quarter. Providence Capital Advisors LLC now owns 52,480 shares of the biopharmaceutical company's stock worth $2,968,000 after acquiring an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insider Transactions at Bristol Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of Bristol Myers Squibb stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the transaction, the executive vice president directly owned 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMY. Morgan Stanley reduced their price target on Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a research report on Thursday, July 10th. Jefferies Financial Group reduced their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Argus raised Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $57.69.

Bristol Myers Squibb Stock Performance

Shares of NYSE BMY traded up $0.68 during trading on Thursday, reaching $47.85. The stock had a trading volume of 10,794,065 shares, compared to its average volume of 12,802,397. Bristol Myers Squibb Company has a one year low of $41.20 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The stock has a market cap of $97.37 billion, a PE ratio of 17.92, a P/E/G ratio of 2.39 and a beta of 0.36. The firm's 50 day moving average price is $47.42 and its two-hundred day moving average price is $53.06.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the previous year, the business earned ($4.40) EPS. The business's quarterly revenue was down 5.6% on a year-over-year basis. On average, research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.18%. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

Bristol Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.